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SNTA: Synta Pharmaceuticals Soars on Breast Cancer Treatment News

The results were unveiled at a medical conference in Europe


hospital bedsOn Thursday, Synta Pharmaceuticals (SNTA) said that its breast cancer treatment had shown promising interim results in a trial. The news sent SNTA stock up more than 8% in mid-day trading.

SNTA stock gained after the company said that ganetespib, administered as monotherapy to combat metastatic breast cancer, had demonstrated “highly encouraging single-agent activity in both HER2+ and triple-negative disease” in the ENCHANT-1 trial. The study is a single-arm multi-center Phase 2 proof-of-concept study that aims to assess the drug’s performance. The interim results were presented at the 9th European Breast Cancer Conference (EBCC) in Glasgow, Scotland.

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In a statement, SNTA noted that the early results “warrant expanded study of ganetespib in this metastatic disease setting.”

On Wednesday, SNTA stock closed at $4.75 a share. SNTA stock has declined more than 30% over the past year.

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